Investments

Income annuity sales in the first quarter climbed almost 23% to $2.16 billion from $1.75 billion a year ago. Indexed annuities, meanwhile, increased nearly 9% hitting $8.16 billion.

Global X Funds has filed paperwork with the Securities and Exchange Commission for two more ETFs employing the same investment strategy as its GURU ETF, which debuted this week.

The tax-exempt market struggled throughout the week under the weight of heavy new issuance as yields jumped double digits.

The hunt is on for yield in the municipal market as interest rates continue to hover around historical lows, forcing investors to use varying strategies to boost returns.

The Dow Jones Industrial Average moved up 93.24 points to close at 12,554.20 Friday while the Nasdaq and S&P 500 gained 27.40 points and 10.67 points, respectively.

On June 8, 2012, Global X Funds filed paperwork with the Securities and Exchange Commission for two more ETFs employing the same investment strategy as its GURU ETF, which debuted this week.

On June 8, 2012, kasina unveiled a new research report looking at how asset management and insurance firms are currently using mobile technologies to interact with their wholesalers and advisors.

On June 8, 2012, PIMCO filed paperwork with the Securities and Exchange Commission for another active exchange-traded offering, dubbed the PIMCO Diversified Income Exchange-Traded Fund.

Ever since the merger between alternative investment shop Ramius and investment bank Cowen Group in November 2009, the two firms have been looking at ways to integrate and grow Ramius' hedge funds, fund of funds, real estate and cash management businesses.

Financial services software giant SunGard has launched a service for international fund processing and distribution, as part of its overall SunGard Global Network Funds service.

Customization has proved to catapult hedge fund of funds into the institutional limelight of late for many small pension and endowment plan sponsors. However, asset size and back office capabilities are still major determinants on whether the inherit fees are worth the worries of commitment to the alternatives vehicle.

On the first day of June, the Dow Jones Industrial Average dropped 1.95%, the Standard & Poor's Index 2.18% and the and Nasdaq Composite Index 2.5%. In effect, stock market gains for the year were wiped out. The reason: Jobs.

On June 8, 2012, mutual funds, ETFs experienced outflows of $8 billion.

With Apple shifting its entire retirement plan portfolio to ETFs, will more follow?

June arrived on a positive note for tax-exempt money market funds, which accumulated $1.19 billion in new cash while total net assets rose to $273.64 billion in the week ended June 4, according to the Money Fund Report, a service of iMoneyNet.com.

The tax-exempt market may have experienced a sizable backup in yields on the week, but muni bond mutual funds still saw robust inflows.

On June 7, 2012, Apple is creating a lot of buzz in the retirement and exchange-traded product space and not because of a new product launch.

On June 7, 2012, Denver-based Curian Capital, LLC added of four new executives to the product development and asset management teams.

On June 7, 2012, Novato, CA-based Hennessy Advisors, Inc. signed an agreement with FBR Fund Advisers, Inc. to buy the entire family of 10 FBR Funds.

A majority of advisors surveyed are willing to recommend sustainable investments, formerly known as socially responsible investments, making the potential markets as big as $650 billion, according to a survey by the Calvert Foundation.